401(k) Planning & Administration for Business
Our process begins with either a diagnostic review of your business structure or current program to measure the effectiveness of the current plan design, investment integrity and cost structure.
LOOK FOR 401(k) PROVIDERS WITH TRANSPARENT FEES
Of course, with a need for specialized 401(k) education and support for your employees comes a need to pay for that service. A big part of 401(k) plan management is making sure the fees you and your employees pay are reasonable in relation to the level of service you receive. That’s only possible if you understand your fees in the first place—which is easier with some 401(k) providers than others.
While there’s no one right way providers might charge fees, it’s important to look for a provider who will be 100% transparent about every dollar charged to you and to your employees. Ask a potential 401(k) provider for a full accounting of who would be getting paid, how much they’ll receive, and where that money comes from. That way, you can get a true sense for the cost of a 401(k) provider’s service and more clearly compare them to other providers.
For example, you may find that one provider can offer much more in the way of employee education and support, and that might bring with it a higher price tag. That’s reasonable if it’s truly in the best interests of your employees. What may not be reasonable is choosing a provider with higher fees over another option that offers a very similar level of service at a lesser expense.
In any 401(k) plan, there are fees paid by the employer and by the employees to cover various service providers working on the plan. Ask for complete transparency on fees, then make a decision for the best balance of cost and service. Document your reasons for choosing the provider and why you believe they will offer your employees the best opportunity to save, invest, and prepare for retirement.
Comprehensive fiduciary services
We offer a robust suite of services to help make your job less burdensome and help simplify compliance. Services may include sponsor communications, plan reporting, compliance testing, IRS audit support, introduce 3(38) services managed by a third party, and fiduciary training.
Ongoing Service - No Call Center - Dedicated Plan Advisor
Many business owners look for top service and they want to avoid interacting with a call center. A dedicated plan adviser will be there to support you through setup and with ongoing plan operations.
Personalized services for employees
Like most people saving for an important goal, your employees want planning and investment support to help them understand what they need to know and what they need to do to get started and stay on track. Here are just some of the services they can enjoy when you work with us, depending on your plan.
- Holistic and personal financial planning guidance from an accredited financial advisor by phone, online or in person
- Easy automation of investment and savings elections
- Innovative mobile app with transaction capabilities
- Whether print, digital, by phone, or face-to-face, We engage, educate, and guide participants based on their personal journey from the day they become eligible to and through retirement
Here are just a few of the ways we can help reach your participants at the right moment, with the right message, in the right medium.
- Personal Financial Dashboard
- Advice and guidance
- Mobile app
- Detailed brokerage reporting